News

Trump Approach to Trade Creates Concern Throughout Ag Sector

24 November 2016

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CANADA - The President of Global AgriTrends remains hope that, despite the rhetoric heard during the US election campaign, that Canada will see limited change in the way the United States deals with international trade, writes Bruce Cochrane.

During the US election campaign the issue of international trade was one of the key topics of discussion.

The Global Protein-Pork Outlook was among the topics addressed last week as part of the 39th annual edition of Saskatchewan Pork Industry Symposium in Saskatoon.

Brett Stuart, the President of Global AgriTrends, notes US President Elect Donald Trump's stand on trade has created concern throughout the agriculture sector.

Brett Stuart-Global AgriTrends:

The whole world is watching minute by minute to see how this Trump Administration rolls out their policy.

Really all we have to go on is campaign rhetoric.

Campaign rhetoric may not be the best gauge of the actions that take place after one's elected.

That doesn't always hold firm but Trump was so bombastic in his rhetoric about NAFTA, about trade agreements, it definitely has us on edge in the ag space.

NAFTA has been a foundation agreement for the US, Canada, Mexico in our agriculture business for years now, decades. I don't know, does NAFTA get repealed? That's possible. Now, if it gets repealed, that doesn't mean trade is going to end.

We're still going to ship back and forth with each other and we would go to the previous agreements, which really for pork and meats have relatively low duties, except for Mexico.

NAFTA really brought down the duties in Mexico. It's sheer speculation at this point. We have a very important and co-dependant relationship.

Mr Stuart says the Trump Factors is a big consideration to be watching but says he has to believe that calmer heads will prevail as we go through this process.